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TANGIBLE INVESTMENTS - Los Angeles - by James O'Dell - Gold extended gains on Friday, climbing to $1,326.20 an ounce while silver rose to $21.88 an ounce, as precious metals prices continue to gain support from a string of worse than expected U.S. economic data. “Silver has been the standout precious metal, testing levels last seen in early November,” said Barclays. The latest economic news to disappoint was Friday's report on existing home sales which plunged 5.1 percent in January, and it follows a slide of 0.8 percent in December.
 
"Such a picture confirms that the U.S. housing market reached its peak at the end of 2013 and further reacceleration is unlikely near term," said Annalisa Piazza of Newedge Strategy. The slumping economy has led to speculation the Fed will slow the pace at which it is currently tapering its massive quantitative easing (QE) program. "Falling U.S interest rates and a weakening of the dollar are two very important determinants of gold prices," said Natixis' Nic Brown. "Since the beginning of the year, both of these have been helping to push gold higher.
 
Meanwhile, with China buying up all the gold they possibly can, they need someplace to store it, so the Chinese Gold & Silver Exchange Society, at the cost of HK $1 billion, is building a gold vaulting warehouse in mainland China capable of storing 1,500 tons of bullion. The warehouse will reportedly be given special status by Beijing that will allow members to freely transfer gold and silver between Hong Kong and Qianhai, on the mainland.
 
Capital controls remain in force in China, so there are only eleven mainland banks that are even allowed to import gold. Diversifying into physical gold and silver is a prudent decision and helps to protect investors and pensioners over the medium and long term.
 
It's important to protect your hard earned wealth during these times of economic uncertainty, and at Tangible Investments, it doesn't matter whether you're new to precious metals or a seasoned veteran, you will always be dealing with top industry experts. Take a moment and browse our vast selection of valuable collectibles, then call Toll Free 1.800.741.5014 today and let the helpful staff at Tangible Investments assist you in your next purchase or sale. Have you claimed your FREE COIN yet?